The WebP extension gives you access to WebP functionality at native speeds.
WebP is a new image format that provides lossless and lossy compression for images on the web. WebP lossless images are 26% smaller in size compared to PNGs. WebP lossy images are 25-34% smaller in size compared to JPEG images at equivalent SSIM index. WebP supports lossless transparency (also known as alpha channel) with just 22% additional bytes. Transparency is also supported with lossy compression and typically provides 3x smaller file sizes compared to PNG when lossy compression is acceptable for the red/green/blue color channels.
For more on information on the format see the following page on Google Developers: WebP
As with all our extensions you get access to a year of support and updates as we are continually improving and updating the extensions for OS updates and feature requests.
This Wiki forms the best source of detailed documentation for the extension along with the asdocs.